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After a Rental Appraisal?

Chase Property Management conduct free market rental appraisals on residential rental property in Auckland. Rental Appraisals are part of our daily role as property managers in Auckland, its our job to ensure that we are promoting our properties at a price that is: getting the most rental income, with the least vacancy allowance, or where the home is currently tenanted, ensuring that fair market rent is being asked when rent reviews are pending.

We offer free rental appraisals to Real Estate Agents and Landlords, our rental appraisals are honest and represent what we believe to be a fair and appropriate asking price at the date of viewing your property, we will not over appraise to get your business, get you a sale or give you leverage with the bank.

How do we appraise your rental property?

Call, email, or fill in your details below and one of our Property Managers will arrange a time to view the property with you, we will evaluate its unique features and positioning. Where the case requires and you are looking to rent the property in the near future, our Property Managers will also take into consideration:
-Your description of the desired tenants that will dwell at the rental property;
-The specific terms and conditions likely to be imposed in the rental agreement;
-The time of year the property is to be rented;
-Its marketing features;
-Competition in the current market;

More about our Property Managers Rental Appraisal Considerations

When it comes to rental appraisals, we use market rent reports from bond lodgement statistics as a retrospective evaluation + available property statistics for present considerations + recently rented comparable property from our managed rentals.
Sam has studied property valuation methodology, and would consider that our form of rental appraisal is closely related to the sales comparison approach, but in Property Management it would be called a rental comparison approach.

Appraisals for Rental Property Investment Purchases

When buying rental property as an investment, almost always a rental appraisal would be included in the marketing material. Given that most appraisals will come with a caveat emptor, and are prescribed as an "estimate only", from experience I advise my clients to consider a second independent appraisal for peace of mind (they are free after all).

Need a Rental Appraisal in a Hurry?

Call Sam Coutts on (021) 711 762 or (09) 213 7444 to discuss your needs and arrange a time for our team to inspect your property.

Property Management Info

When a landlord seeks a rental appraisal for their property the intention is typically to set the rent at a price that generates both the best tenants and rental returns for the next year. Most often appraisals are conducted prior to renting or re-renting, and if that's the position you are in we encourage you to be diligent and consider possible legislative changes.

With the Residential Tenancies Act Amendment Bill no 2 now passed second reading, it is worthy of all landlords to take note of the implications and be proactive / consider the future. If the proposed changes come into effect and the rental property is not code compliant/ not legally permissible / contaminated above MOH guidelines with Meth related residues landlords may risk:
Part or full repayment of rent + a fine (up to $4000) for acting unlawfully + an order to fix (upto $50,000) & the landlord may not have any recourse for damages done to the property (i.e. tenant has moving out party and causes damage, landlord cannot make any claim).

As a landlord you are wise to start preparing that if these changes come into effect your property is lawfully rentable. Protect yourself for the future, and be confident that your rental property is lawful and you are acting lawfully by:

Get your property professionally meth tested prior to renting to ensure it is legally habitable (and do it in between every tenancy to ensure it stays meth free or the guilty party is held accountable). The cost for meth testing varies, as a range you are looking at $179-489+ GST and further room by room test may be needed. We stress to landlords, that we strongly encourage testing especially when there is faith that the house has never been occupied by users. BEWARE: ensure you're insured and be prepared for the worst. Keep in mind you can't knowing rent a contaminated house.

If there's any risk that your property is not code compliant start planning to take the steps required to get it up to scratch or at the least take the necessary steps so your not at risk of losses. Where this comes into play in the Auckland market will mostly (from our experience) be with regards to granny flats and secondly unconsented alterations like wall alterations or enclosed decks. Most of you will have some idea of where your property stands, but if not then order a LIM report (click here for Auckland Council LIM info), and or evaluate your property as it stands against the consented plans. If you don't have the plans, order a property file (from Auckland Council) to establish exactly what's on file. Where required there are options to move on with a certificate of acceptance or a safe and sanitary, but my experience has been that Council is taking a much harder line on these now as opposed to a few years ago.

When our property managers conduct a rental appraisal for you we are relying on the your assertion that the property is lawful and livable, and in the future more stress will be put on this.

The current proposed amendments will make clear some further landlord legal responsibilities, but it will bring some much needed positive changes for making tenants accountable for their damages. Parties have till early August 2017 to make submissions, so if you're interested or want to know more you can click here.

If you are seeking a well considered rental appraisal from experienced property managers in Auckland, please feel welcome to get in touch with the team at Chase Property Management.

Good news for tenants looking for property in the busy Auckland rental market. Trademe has not launched an online application system that works in conjunction with Viewing Tracker called Tenancy Tracker. Read More »